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GASCO cancels gas extension investment plan with Omani firm

GASCO cancels gas extension investment plan with Omani firm
The decision will have no financial impact on the company’s results
AWPT
2081.B
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National Gas
NGCI
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Riyadh – Mubasher: National Gas and Industrialization Company (GASCO), listed on the Saudi Stock Exchange (Tadawul), announced that its board of directors decided not to proceed with plans with Oman-based National Gas to invest in a new gas extension company.

The decision will have no financial impact on the company’s results, GASCO said in a bourse filing on Sunday.

In March 2018, the two companies signed a non-binding memorandum of understanding (MoU) to conduct a feasibility study to set up a new gas extension company.